Renovated Mixed-Use
New
For Sale
$4,562,500
1303 Dragon Street Unit A A, Dallas, TX 75207
Combines ground-floor retail with three individually deeded residential condominiums and private entrances.
Property Size4,421 SF
Price / SF$1,032
Days on Market5
Property Features for 1303 Dragon Street Unit A A
General Information
Standard status
Active
Size
4,421 SF
Total Parking Spaces
18
Property subtype
CommercialSale
Amenities
climate-controlled six-car garage
private rooftop patio
smart technology
Building Details
Year Built
2006
Year Renovated
2021
Buildings
1
Listing Agency:
OnDemand Realty
(214) 766-5833
Listed By:
Annie Stiles · License #0734735
Source:
Prodeorealty
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 11:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of OnDemand Realty
Investment Insights
Based on property information with market context.
Located at 1303 Dragon Street in Dallas’s Design District, this mixed-use property contains 12,500 SF across retail and residential components. The ground floor provides 4,421 SF of retail space, while three individually deeded residential condominiums measure 2,947 SF, 2,498 SF, and 2,634 SF. The residential units include private entrances, smart technology, high-end finishes, and a private rooftop patio.
Built in 2006 and extensively upgraded in 2021, the property also includes a climate-controlled six-car garage, a grade-level dock door serving the private garage, and 18 on-site parking spaces. The residential condominiums have never been occupied or offered for lease. The property is within walking distance of Design District restaurants, galleries, and nightlife, and sits near The Seam, a 160,000 SF destination featuring dining, retail, design, and wellness offerings.
Built in 2006 and extensively upgraded in 2021, the property also includes a climate-controlled six-car garage, a grade-level dock door serving the private garage, and 18 on-site parking spaces. The residential condominiums have never been occupied or offered for lease. The property is within walking distance of Design District restaurants, galleries, and nightlife, and sits near The Seam, a 160,000 SF destination featuring dining, retail, design, and wellness offerings.
Key Highlights
- 12,500 SF mixed‑use property with retail and residential components
- 4,421 SF of ground‑floor retail space
- Three individually deeded residential condos: 2,947 SF, 2,498 SF, and 2,634 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$254,169
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,083,380
$5.1M
Cap Rate 7%
$3,630,986
$3.6M
Cap Rate 9%
$2,824,100
$2.8M
Market Conditions
NOI Build-Up for 4,421 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$453.1K $102.48/SF
− Vacancy
−$114.2K −$25.82/SF
EGI
$338.9K $76.66/SF
− OpEx
−$84.7K −$19.16/SF
NOI
$254.2K $57.49/SF
Area
Dallas, TX
Vacancy
25.20%
Lease Rate
$102.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,083,380
Cap Rate 7%
$3,630,986
Cap Rate 9%
$2,824,100
Alternative Uses
Best Use
Office B
$3.63M
$3.18M – $4.24M
NOI $254,169 @ 7.0% cap · market cap 5.57%
Second Best
Retail
$1.02M
$889.2K – $1.19M
NOI $71,136 @ 7.0% cap · market cap 1.56%
Theoretical Best
Office A
$5.30M
$4.64M – $6.19M
NOI $371,339 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,260
Businesses Nearby
Explore this area
Business Placement
Demographics for 75207, TX
7,116
Population
2,465
Households
2.9
Avg Household Size
33
Median Age
30%
College-Educated
81%
High-School Grad
3.9 sq mi
ZIP Area
1,825
Density / Sq Mi
$84,149
Median Household Income
$45,903
Median Earnings
$1,789
Median Rent
Market
Vacancy Rate% for Office in Dallas, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines ground-floor retail with three individually deeded residential condominiums and private entrances.
Where is this mixed-use property located?
The property is located at 1303 Dragon Street Unit A A Dallas, TX.
What is the asking price?
The asking price for this property is $4,562,500.
What are key features of this property?
This property features: 12,500 SF mixed‑use property with retail and residential components; 4,421 SF of ground‑floor retail space; Three individually deeded residential condos: 2,947 SF, 2,498 SF, and 2,634 SF
